Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 27 August 2020 1:47 pm

  US Dollar Near its Lowest Level in a Week Before the US Fed Chairman’s Speech

  

  The dollar remains near its lowest level in a week which it reached earlier Thursday 27 August, before a speech by US Fed Chairman Jerome Powell is expected to hint that the bank will adjust its policy framework to help raise inflation. Powell is scheduled to deliver his speech at …

  Read More »
• 27 August 2020 12:10 pm

  Gold Declines With Profit-Taking and Investors Awaited Signs From The US Federal

  

  Gold fell Thursday, August 27th, following a sharp increase in the previous session as investors adjusted their positions to focus on whether the US Federal Reserve chairman will hint at a change in monetary strategy. By 06:22 GMT, spot gold fell 0.8% to 1938.32 dollars an ounce, after rising 1.3% …

  Read More »
• 27 August 2020 11:28 am

  Gold Futures Declined During Asian Session

  

  According to the COMEX, gold futures were traded for December at $ 1949.80 per ounce, down 0.44%. It previously traded at a session low$ 1946.25 an ounce. Gold may find points of support at $ 1908.40 and resistance at $ 1970.30. The dollar index, which measures the performance of the …

  Read More »
• 27 August 2020 11:08 am

  Chinese Industrial Profits Rose at Fastest Pace in Two Years

  

  Chinese industrial profits rose at the fastest pace in two years, as the sector’s monthly profits rose 8.1% in July. The annual profits of Chinese industrial companies grew by 19.6% to exceed $ 85 billion. This data is an additional indication of the recovery of the second-largest economy in the …

  Read More »
• 27 August 2020 11:04 am

  Oil prices stable as Gulf of Mexico Braces For Laura

  

  Oil prices stabilized Thursday (August 27th) as a massive hurricane in the Gulf of Mexico affecting US oil industry, forcing oil drilling rigs and refineries to stop production. Brent crude futures for October delivery, which expire on Friday, rose 13 cents, or 0.3%, to $ 45.77 a barrel, after falling …

  Read More »
• 27 August 2020 1:16 am

  NYSE Maintains Record-Breaking Rally

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by the tech stocks gains, positive economic data, and expectations that the US Federal Reserve will maintain its monetary policy for the near future. The Dow Jones Industrial Average added 83.48 points or 0.30% and closed at 28,331.92. The …

  Read More »
• 27 August 2020 1:07 am

  BoE’s Haldane: COVID Could be Catalyst for Social Change

  

  The Chief Economist and the Executive Director of Monetary Analysis and Statistics at the Bank of England (BoE), Andy Haldane, said on Wednesday that the role of central banks against the COVID-19 pandemic is limited in tackling inequalities, Yahoo Finance UK reported. “Many of the yawning social, economic, and financial …

  Read More »
• 27 August 2020 12:43 am

  Fed’s Esther George: Recession Depends on Pandemic State

  

  President of the Federal Reserve Bank of Kansas, Esther George, said on Wednesday that the COVID-19 recession in the United States could reoccur if the pandemic intensifies. “An important risk to that outlook is thinking about what happens as we come into the fall, whether we see any resurgence in …

  Read More »
• 27 August 2020 12:35 am

  Oil Prices Struggle for Direction

  

  Oil prices showed a mixed performance on Wednesday, after support from data showing the fifth consecutive weekly draw in US crude stockpiles was offset by negative demand forecasts. Crude prices, especially in the United States, remain supported by output disruptions in the Gulf of Mexico due to Hurricane Laura. Brent …

  Read More »
• 27 August 2020 12:29 am

  Gold Prices Settle at Week High

  

  Gold prices rose on Wednesday to their highest level since August 19, after trading lower for some time due to the rising US Treasury yields. The yellow metal futures for December delivery closed higher by $29.40, or 1.5%, at $1,952.50 per ounce. Meanwhile, silver futures for September delivery surged by …

  Read More »
• 26 August 2020 11:12 pm

  European Stocks Settle Higher

  

  European stocks returned to gains on Wednesday, reversing their earlier losses today on the back of positive economic data. The STOXX Europe 600 index gained 0.8%, supported by the rising market sectors. The UK’s FTSE100 closed higher by 0.14%, while the French CAC40 and the German DAX indices increased by …

  Read More »
• 26 August 2020 10:04 pm

  Mexico’s Economy Contract by 18.7% in Q2

  

  The Mexican economy has recorded its worst drop on record during the second quarter of 2020, due to the impact of the COVID-19 pandemic. Mexico’s gross domestic product (GDP) contracted by 17.1% on a quarterly basis during Q2 and by 18.7% on an annual basis. Mexican GDP is expected to …

  Read More »
• 26 August 2020 9:31 pm

  US Imposes New Sanctions over South China Sea

  

  The United States has blacklisted 24 Chinese companies involved in construction and military activities in the South China Sea, Reuters reported. The sanctioned companies are playing a “role in helping the Chinese military construct and militarize the internationally condemned artificial islands in the South China Sea,” according to a statement …

  Read More »